What are we looking for

Each week, the NEAR Foundation publishes data to help the NEAR community understand the ecosystem's health as part of their Transparency Report.

We want your help in making the NEAR ecosystem even more transparent. How can you improve on the existing NEAR Transparency report?

Explain which metrics should be taken into consideration and why. Then, analyze those metrics over the last several weeks and draw your own conclusions on the health of the NEAR ecosystem.

What is NEAR Protocol?

NEAR Protocol is a smart contract capable, public Proof-of-Stake (PoS) blockchain that was conceptualized as a community-run cloud computing platform. Built by the NEAR Collective, NEAR was designed to host decentralized applications (dApps), and strives to compete with Ethereum and other leading smart contract-enabled blockchains like EOS and Polkadot. NEAR’s native token is also called NEAR, and is used to pay for transaction fees and storage. NEAR tokens can also be staked by token holders who participate in achieving network consensus as transaction validators.

NEAR Protocol is focused on creating a developer and user friendly platform. To accommodate this mission, NEAR has incorporated features like human-readable account names as opposed to only cryptographic wallet addresses, and the ability for new users to interact with dApps and smart contracts without requiring a wallet at all.

Description of work

As a result of high importance of the transparency in the NEAR ecosystem, the NEAR foundation has been committed to transparency since inception which in turn values openness to all of the users including stakeholders, investors, builders, and creators, this report aimed at throwing some light on this matter. For this purpose, we have investigated some important metrics that might be taken into consideration more by the users such as NEAR’s price, staking and liquid staking, blocks and authors, nodes, transactions, active users, fees, actions and function calls, top contracts, and failed transactions time as well as variation and trends thereof. Finally, according to this analysis, we have drew our own conclusion in order to show the readers the health of the NEAR ecosystem.MethodologyThe data in this dashboard is obtained from the following tables from FlipsideCrypto database:

• near.core.fact_prices
• near.core.dim_staking_actions
• near.core.fact_blocks
• near.core.fact_transactions
• near.core.fact_actions_events
• near.core.fact_actions_events_function_call It must be pointed out that a one-month period has been chosen in this review report (from 17 Dec 2022 to 16 Jan 2022). Moreover, we have tried to compare the date before and after the new year in order to see what variations or trends can be seen after the new year on NEAR ecosystem in different investigated parameters in this dashboard.

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• The daily variation of the number of stake transactions show a significantly decreasing trend from 17 Dec 2022 (784) to 31 Dec 2022 (363). This trend is rather constant (in the range of 317 to 405 transactions) with some fluctuations after the new year, the max number of stake transactions after the new year is recorded on 4 Jan 2023 (405).
• A rather fluctuating trend can be seen for the daily variation of the number of unstake transactions whether before or after the new year. The max number of unstake transactions before and after the new year is recorded to be about 176 (21 Dec 2022) and 462 (14 Jan 2023), respectively.
• The trend of the daily variation of the number of stake users is also significantly decreasing from 17 Dec 2022 (594) to 31 Dec 2022 (287). However, this trend seems to be rather constant (in the range of 259 to 347 transactions) with some fluctuations after the new year, the max number of stake transactions after the new year is recorded on 4 Jan 2023 (347).
• As far as the daily variation of the number of unstake users are concerned, a rather fluctuating trend can be seen whether before or after the new year. The max number of unstake users before and after the new year is recorded to be about 130 (22 Dec 2022) and 335 (14 Jan 2023), respectively.
• The daily variation of the number of validators whether before or after the new year for both stake or unstake actions shows a rather constant trend with some fluctuations. The max number of validators for stake action is recorded on 26 Dec 2022 (98) and 14 Jan 2023 (95). The max number of validators for unstake action is reported to be on 14 Jan 2023 (95).
• The daily variation of the total volume according to the type of actions (stake or unstake) whether before or after the new year shows a rather fluctuating trend with some spikes for example on 28 Dec 2022 (8.35M stake transactions volume) and 6 Jan 2023 (5.83M unstake transactions volume).
• As far as the distribution of the number and volume of transactions according to their type is concerned, it can be said that stake transactions (63.5% of the total transactions volume share and 73.7% the total transactions number share) have the upper hand compared to unstake transactions (36.5% of the total transactions volume share and 26.3% the total transactions number share, by far.
• To draw a conclusion in this section it can be said that dominating the number of the total volume and number of stake transactions over unstake transactions helps the health of the NEAR's ecosystem and it might be considered as a good news for the NEAR’s users.

Blocks and Authors

The daily variation of the NEAR’s price shows a constant trend before the new year (in the range of 1.30 to 1.35USD).

• A significantly increasing trend for NEAR’s price can be seen from 1 Jan (1.26 USD) to 16 Jan 2023 (2.22USD), which is about 80% increase in the price during a 15-days period. However, the price decreased slightly after 16 Jan 2023, about 2.21 USD and 2.14 USD on 17 and 18 Jan 2023.
• As far as the 7 day moving average price is concerned, a significantly increasing trend from 1.26 USD on 1 Jan 2023 to 2.08 USD on 18 Jan 2023 after the new year can be observed, while this trend was rather constant before the new year (in the range of 1.26 to 1.33 USD).

Staking and Liquid Staking

Transactions-Fee-Active Users

Nodes Number

Top 10 Contracts

Failed Transactions Time

Actions and Function Calls

Price

This chart shows the cumulative daily variation of the nodes during the past month. As it can be observed in this section, the total number of nodes is 3.

As it can be seen in this part of our report, the number of nodes increased during the past month. Increasing the number of nodes can be a sign of improving decentralization of the NEAR ecosystem.

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• The daily variation of the number of transactions shows a rather constant trend with some fluctuations (in the range of 254.7K to 426.14K) between 19 Dec 2022 and 9 Jan 2023, but, after 10 Jan 2023 a drastically increase in the number of transactions can be seen (about 500K) and the trend is significantly increasing from 10 to 12 Jan 2023 (from about 500K to 635K). However, this trend is significantly decreasing from 13 Jan 2023 (585.7K) to 18 Jan 2023 (243.2K). It is worth mentioning that the max number of transactions is recorded on 12 Jan 2023 (about 635K). It must be pointed out that the daily number of transactions implies the number of the blockchain logged a transaction over a specific period (one-month period in our analysis) which in turn shows the importance of investigation of the variation and tends of this parameter from the point of view of the readers of this review.
• The trend of the daily variation of the number of active users is also rather constant with some fluctuations between 19 Dec 2022 and 9 Jan 2023 (in the range of 35.6K to 47.9K). After 10 Jan 2023 a drastically increasing trend in the number of active users can be seen until 13 Jan 2023 (from about 123.41K to 149.81K). But after 13 Jan 2023 this trend is significantly decreasing to 18 Jan 2023 (from about 149.81K to 28.07K). It can be observed that the max number of active users is reported to be about 149.81K on 13 Jan 2023.
• The overall trend of the variation of the total fee during the past month is rather fluctuating, but this trend is especially increasing between 9 and 17 Jan 2023, with a spike on 12 Jan 2023 (789.8) which is the max total fee during the past month. It might be important to note the total fee drastically decreased from 17 Jan (about 635.46) to 18 Jan (about 326.32). It is also interesting to note that every NEAR wallet that makes an on-chain transaction, will be counted as an active account which in turn counts in the daily number of active users metric which its trends and variations have been investigated comprehensively in this review.

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• As far as the distribution of the failure or success transactions for different actions is concerned, it can be seen that the success transaction has the upper hand by far, for example for Function call action the number of success transactions is about 9.17M which is way more than the number of failure transactions (1.22M) that shows for this specific action the ratio of success to failure transactions is about 7.51, for some other actions this ratio is more than 60 such as transfer (65.93) or Addkey (66.13). These high success rate for transactions can be a token of the healthiness of the NEAR ecosystem.
• Regarding the distribution of the actions according to the success transaction, it can be concluded that the Function call has the upper hand by far among the other actions (about 98.7% of the total share).
• As far as the daily variation and distribution of the transactions for the most popular actions is concerned, it can also be seen that the Function call has the upper hand by far (89.7% of total share), after that transfer (7.18%), Addkey (1.94%), and Deletkey (0.751 %), are the most popular ones. Therefore we have investigated the daily variation and distribution of the transactions for the most popular Function call events. It has been found that ft-transfer (26.7%), submit (21.2%), record-batch (16.5%), claim (7.93%), and storage-deposit (6.39%) are the most popular Function call events in this respect.

- It is interesting to note for the readers to find a better sense of healthiness and stable growth of the NEAR ecosystem by knowing the most popular contracts as well as their daily variation since these smart contracts built on the NEAR blockchain defines as intelligent programs which automatically execute when certain parameters are met, hence in this section of our analysis we are going to throwing some light on this matter.

• By regarding this sections readers of this review dashboard can see the most popular contracts with most interacted as well their transactions number’s daily variation and trends.

• As far as the top 5 contracts is concerned, it can be said that token sweat (39%), aurora (18.5%), app.nearcrowd.near (17.6%), switchboard-v2.near (7.56%), tge-lockup.sweat (6.86%) have the upper hands among other contracts with the most interacted in this respect.

This chart shows that the transactions failure ratio on different hours of the days of the week lies in the range of 0.1 to 0.3 which in turn can be consider as a positive feature of the NEAR ecosystem. It can be observed that generally the transactions failure ratio is very low for most of the days excep some certain hours on Saturday (6) and Thursday (1 and 3). It can be concluded from this section that NEAR ecosystem is healthy on in this respect.

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• The overall trend of the daily variation of the blocks number for different authors show a constant trend during the past month, however, it is worth mentioning that some fluctuations between 19 to 27 Dec 2022 can be seen.
• It can be observed that the top 3 most popular author according to the number of blocks are figment.poolv1.near (5.83K), astro-stakers. poolv1.near (3.925K), and bzam6yjpnfixsdmjf6pw. poolv1.near (3.57K).

Conclusion  

To draw a conclusion in this dashboard, it can be said that the most of the investigated parameters in this dashboard indicate the health of the NEAR ecosystem. Moreover, it must be pointed out that the NEAR blockchain is built to be simple, secure, and scalable for the users and it is a sustainable, biocompatible carbon neutral platform (as a matter of fact this innovative blockchain design uses a fraction of the energy other networks use, and requires no sort of power-draining “crypto mining” to perform transactions) alongside the healthiness of its ecosystem (which has been seen in this review analysis) show a very bright and successful future for this creative blockchain that will attract the attention of the users and probably will grow more and more during the next years. It must be pointed out that nowadays by increasing environmental concerns, biocompatible sustainable platforms (such as NEAR blockchain) are more desirable by the society as well as market and economy activists and their importance is growing more and more every day.

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• This dashboard aims to conduct a comprehensive review on the most important aspects of the NEAR blockchain such as price, staking and liquid staking, blocks and authors, nodes, transactions, active users, fees, actions and function calls, top contracts, and failed transactions time in terms of trends and variations during the past month, in order to help to improve the transparency of the NEAR ecosystem (during the past month).
• The daily variation of the NEAR’s price shows a constant trend before the new year (in the range of 1.30 to 1.35USD).
• A significantly increasing trend for NEAR’s price can be seen from 1 Jan (1.26 USD) to 16 Jan 2023 (2.22USD), which is about 80% increase in the price during a 15-days period. Regarding the 7 day moving average price, also a significantly increasing trend from 1.26 USD on 1 Jan 2023 to 2.08 USD on 18 Jan 2023 after the new year can be observed.
• As far as the stake/unstake transactions is concerned, it has been seen in this analysis that stake transactions have the upper hand compared to the unstake transactions by far and this positive overcome must be a good news for the NEAR’s users as well as the prospective users who are interested to join the NEAR blockchain as far as the health of the ecosystem is concerned.
• Regarding the daily variation of the blocks number for different authors, although some fluctuations between 19 to 27 Dec 2022 can be seen, the overall trend in this respect is constant during the past month.
• The top 3 most popular authors according to the number of blocks are figment.poolv1.near (5.83K), astro-stakers. poolv1.near (3.925K), and bzam6yjpnfixsdmjf6pw. poolv1.near (3.57K).
• It has been obtained in this dashboard that the total number of nodes is 3 during the past month.
• The daily variation of the number of transactions and users shows a rather constant trend with some fluctuations between 19 Dec 2022 and 9 Jan 2023. After 10 Jan 2023 a drastically increasing trend in the number of transactions and active users can be seen until 13 Jan 2023. After 13 Jan 2023 these trends are significantly decreasing to 18 Jan 2023.
• The max number of transactions is recorded on 12 Jan 2023 (about 635K) during the past month.
• The max number of active users is reported to be about 149.81K on 13 Jan 2023 during the past month.
• The overall trend of the variation of the total fee during the past month is rather fluctuating, but this trend is especially increasing between 9 and 17 Jan 2023, with a spike on 12 Jan 2023 (789.8) which is the max total fee during the past month.
• As far as the distribution of the failure or success transactions for different actions is concerned, it can be seen that the success transaction has the upper hand by far (for example for Function call action the number of success transactions is about 9.17M which is way more than the number of failure transactions (1.22M) that shows for this specific action the ratio of success to failure transactions is about 7.51) this high success rate for transactions can be a token of the healthiness of the NEAR ecosystem.
• Function call has the upper hand by far among the other actions (about 98.7% of the total share) by regarding the distribution of the actions according to the success transaction.
• As far as the daily variation and distribution of the transactions for the most popular actions is concerned, it can also be seen that the Function call has the upper hand by far (89.7% of total share).
• The daily variation and distribution of the transactions for the most popular Function call events shows that ft-transfer (26.7%), submit (21.2%), record-batch (16.5%), claim (7.93%), and storage-deposit (6.39%) are the most popular Function call events in this respect during the past month.
• The top 5 most popular contracts with the most interacted are token sweat (39%), aurora (18.5%), app.nearcrowd.near (17.6%), switchboard-v2.near (7.56%), tge-lockup.sweat (6.86%).

Interesting source for readers of this dashboard: [https://near.org/]   [https://near.org/blog/near-weekly-on-chain-data-report-december-23/]  [https://learn.bybit.com/altcoins/what-is-near-protocol/]

Summary

The daily variation of the volume of the NEAR's liquid staking for different platforms shows a rather fluctuating trend. It is worth mentioning that the overall trend of the NEAR's liquid staking is also fluctuating with some spikes for instance on 16 and 18 Jan 2023. Moreover, as it can be observed, the liquid staking volume on Meta mostly has the upper hand compared to Linear platform from 19 Dec 2022 to 29 Dec 2022 and 7 Jan to 13 Jan, however, the volume on Linear platform is prior to Meta between 30 Dec 2022 and 6 Jan 2023. It must be pointed out that after 14 Jan 2023 the Linear platform has the upper hand by far compared to other platforms. It might be interesting to note for the readers that the liquid staking volume on Stader platform is almost negligible compared to other platforms.As it can be seen in this part of our report, the number of nodes increased during the past month.

Moreover, a significantly increasing trend after 16 Jan 2023 can be seen for NEAR liquid staking volume (especially on Linear platform) which can be consider as a positive sign for ==NEAR's health== state.

NFT

The daily variation of the NFT sales volume show a rather fluctuating trend with one significant spike on 2 Jan 2023 (6.27k). However, the volume of the NFT sales decreased slightly from the first of the chosen period in this analysis (19 Dec 2022, about 1.8k) to the end of this period (18 Jan 2023, about 1.21k).

The trend of the daily number of NFT-related transactions also show a rather fluctuating trend in the range of 66 to 357 during the past month. The max number of NFT-related transactions is recorded on 9 Jan 2023. Again a decrease in the number of NFT-related transactions from 19 Dec 2022 (116) to 18 Jan 2023 (94) can be seen during the past month.

As it can be observed, NFT sales number and volume's trend after the new year is rather same as before the new year, therefore it can be concluded that the NEAR's users behavior almost has remained unchanged after the new year.